Spirit of America Management Corp NY Purchases 2,900 Shares of Vertiv Holdings Co (NYSE:VRT)

Spirit of America Management Corp NY increased its position in Vertiv Holdings Co (NYSE:VRT) by 81.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,450 shares of the company’s stock after acquiring an additional 2,900 shares during the quarter. Spirit of America Management Corp NY’s holdings in Vertiv were worth $642,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Krane Funds Advisors LLC bought a new stake in shares of Vertiv in the third quarter valued at approximately $29,000. Anchor Investment Management LLC bought a new stake in Vertiv during the 2nd quarter valued at $26,000. Global Trust Asset Management LLC purchased a new stake in shares of Vertiv during the third quarter worth $30,000. Atticus Wealth Management LLC bought a new position in shares of Vertiv in the first quarter worth $27,000. Finally, Mather Group LLC. grew its position in shares of Vertiv by 132.5% in the second quarter. Mather Group LLC. now owns 351 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Vertiv Stock Performance

NYSE VRT opened at $110.05 on Friday. Vertiv Holdings Co has a 52-week low of $34.60 and a 52-week high of $116.41. The company has a fifty day moving average of $92.37 and a 200-day moving average of $89.83. The company has a market capitalization of $41.20 billion, a P/E ratio of 105.82, a P/E/G ratio of 1.42 and a beta of 1.59. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. Vertiv’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period last year, the firm posted $0.52 EPS. As a group, equities research analysts predict that Vertiv Holdings Co will post 2.58 EPS for the current fiscal year.

Vertiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.09%. The ex-dividend date was Tuesday, September 17th. Vertiv’s dividend payout ratio is currently 9.62%.

Analyst Upgrades and Downgrades

Several research analysts have commented on VRT shares. Oppenheimer raised their target price on Vertiv from $115.00 to $121.00 and gave the stock an “outperform” rating in a research note on Thursday. TD Cowen increased their price target on shares of Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday. Jefferies Financial Group started coverage on shares of Vertiv in a research note on Monday, October 7th. They set a “buy” rating and a $125.00 price objective for the company. Bank of America increased their target price on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Citigroup upped their price target on shares of Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a report on Thursday. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $122.11.

Insider Buying and Selling

In other news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.01% of the stock is owned by corporate insiders.

About Vertiv

Vertiv Holdings Co, together with its subsidiaries, designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.